LAS VEGAS, March 17, 2020 /PRNewswire/ -- Las Vegas
Sands (NYSE: LVS) today announced that, out of an abundance of
caution and in line with recent guidance from federal and state
governments, it is closing its Venetian and Palazzo resorts in
Las Vegas until at least April
1. A decision on whether to extend the closure or re-open
will be made at a later date. The process of closing the
properties will begin immediately and be completed as soon as
possible.
The company said it is committed to paying its team members
while the buildings are closed. No layoffs or furloughs are
being contemplated and the closure will not impact health care
eligibility the company stated.
"These are clearly challenging times for our country and our
community. We are in the hospitality and entertainment
business and our team members work very hard to provide a great
experience for the thousands of people who come through our doors
daily. However, our most important commitment is the one we
have made to the health and safety of our team members and
guests. Right now, the best way to fulfill that commitment is
by asking people to not come to work. While we hope this
closure is a short-term necessity, we are realistic it may be a
prolonged event. Our team members and their families will
rightly be concerned about their health and safety, but we do not
want them worried about their jobs, income or health care.
Like we have done in the past, we are fully prepared to support our
team members over an extended period should it be needed," said
Rob Goldstein, president and chief
operating officer of Las Vegas Sands.
The company also announced it is donating a total of
$250,000 to several important local
organizations to serve our community during this time of
need. Those organizations include Three Square, Communities
In Schools and Share Village Las Vegas. In addition, the company
plans to bolster that financial support with donations of meals and
needed equipment.
About Las Vegas Sands Corp. (NYSE: LVS)
Las Vegas Sands is the world's pre-eminent developer and
operator of world-class Integrated Resorts. We deliver unrivaled
economic benefits to the communities in which we operate.
Sands created the meetings, incentives, convention and
exhibition (MICE)-based Integrated Resort. Our industry-leading
Integrated Resorts provide substantial contributions to our host
communities including growth in leisure and business tourism,
sustained job creation and ongoing financial opportunities for
local small and medium-sized businesses.
Our properties include The Venetian Resort and Sands Expo in
Las Vegas, and the iconic
Marina Bay Sands in Singapore. Through majority ownership
in Sands China Ltd., we have developed the largest portfolio
of properties on the Cotai Strip in Macao, including The Venetian Macao, The Plaza
and Four Seasons Hotel Macao, Sands Cotai Central and The Parisian
Macao, as well as the Sands Macao
on the Macao Peninsula.
Sands is dedicated to being a good corporate citizen, anchored
by the core tenets of serving people, planet and communities.
We deliver a great working environment for 50,000 team members
worldwide, drive social impact through the Sands Cares charitable
giving and community engagement program and lead in environmental
performance through the award-winning Sands ECO360 global
sustainability program. To learn more, please visit
www.sands.com.
Contacts:
Investment Community:
Daniel Briggs
(702) 414-1221
Media:
Ron Reese
(702) 414-3607
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SOURCE Las Vegas Sands Corp.